KUDOS to Senator John Ensign (R-NV) for proposing an alternate economic stimulus bill than the one currently being debated in the Senate. Said Ensign:
“This legislation brings the emphasis back to where it needs to be–on housing and target tax relief, not pet projects that bury future generations under insurmountable debt.”
Ensign’s bill, put forth at the end of last week, would enable homeowners to refinance their mortgages at about 4%, provide for a $15,000 home buyer tax credit, as well as tax cuts for the lowest tax brackets and for small businesses. See his February 5 press release for the details. This plan would cost about half than the current monstrosity being pushed, and it would do more to actually stimulate the economy.
Senators John McCain (R-AZ) and John Thune (R-SD) offered their own alternative bills, both of which would have provided higher tax cuts and less government spending. All three bills were predictably defeated in the overwhelmingly Democratic Senate.
SHAME ON Senator Harry Reid (D-NV, Senate Majority Leader) for this:
“As I have explained to people in that group, they cannot hold the president of the United States hostage. If they think they’re going to rewrite this bill and Barack Obama is going to walk away from what he is trying to do for the American people, they’ve got another [thing] coming.”
What Barack Obama is “trying to do for the American people” would be better put, what he is trying to do for the Democrat Party, that is: fund pet projects (PORK) that don’t create jobs but do buy votes in future elections, and use the current economic crisis to implement an extreme left wing agenda, as well as to grow the federal government.
News Flash to Harry Reid: What people in “that group” are trying to do is actually stimulate the economy, offering plans that would put money in the hands of…yes, THE AMERICAN PEOPLE , rather than government agencies and Democrat special interest groups like ACORN. Harry Reid and Nancy Pelosi (D-CA, House Majority Speaker), as well as most in the media, would have us believe that simply going along with whatever Barack Obama wants…for the sake of unity…is the highest ideal,
but if critics truly believe that Mr. Obama’s policies will damage our economy, and our country in general, then is unity really such a saintly endeavor?
I think not.
Thankfully, Senators John McCain and Lindsey Graham…who normally pride themselves on “reaching across the aisle,” have come to their senses in this instance and finally realized that bipartisanship doesn’t (or shouldn’t) simply mean giving the Democrats every thing they want. For once I can agree with McCain, who rightfully said:
“No bill is better than this bill, because it increases the deficit by over $1 trillion.”
Even the Congressional Budget Office has concluded that the current “stimulus” bill being pushed by Obama will be more harmful to our economy in the long run than if the government were to DO NOTHING. What was that? I swear I’ve heard President Obama, as well as Reid and Pelosi belabor us with the fearful notion that if we don’t pass this thing yesterday, we will have a “catastrophe,” even losing $500 million jobs every month until their version of “stimulus” is passed. (No, that was not a typo. Nancy Pelosi actually said that…and no, there are not even 500 million people residing in the United States of America.)
Senator Minority Leader Mitch McConnell (R-KY) points out:
“If you started the day Jesus Christ was born and spent $1 MILLION every day since then, you still wouldn’t have spent $1 TRILLION.”
And there you have it.
For more information on the economic stimulus see A New Era of Responsibility?